Cryptocurrency mining has always been seen as a lucrative business, but, with steadily increasing difficulty—as well as growing interest in Bitcoin and other crypto coins—the market has been harder and harder to pierce.
Today, mining requires a lot more time and effort than it did just a few years ago; nonetheless, if managed well, a mining operation can still be successful.
easyMINE is looking to fill a niche for miners who want to remain relevant—and profitable—with what they call an Intelligent Mine Management Platform.
No need for humans
When mining required nothing more than a good GPU and cheap electricity, being a part of a huge collective of miners was easy. Nowadays, however, most mining is being done by vast pools with huge budgets and, more importantly, structures in place to maintain top efficiency.
This is the level of competition for hobby miners and even intermediate miners, and this is where easyMINE believes it can help—by eliminating the need for human supervision.
To remain profitable while mining, a delicate balance between performance, stability, and energy consumption must be maintained. For an individual miner, this is both difficult and time consuming.
By utilizing a mine management platform such as easyMINE, high degrees of optimization can be achieved much more efficiently.
More than automation
“What we have in mind reaches far beyond simple automation,” explains Dr. Andrzej Buller, the easyMINE team’s machine learning expert. “Our system will be capable of ‘learning’ from prior ‘experience,’ drawing informed conclusions from accumulated data and applying them to new situations.”
The technology, which the easyMINE team refers to as the Autonomous Cryptocurrency Mining Controller (ACMC), will be able to deal with such aspects of mine management as maintaining stability, improving efficiency, and implementing long-term operating strategies.
Triple-leveled solution
easyMINE’s core technology is organized into three distinct tiers. The first level of ACMC will deal directly with preventing crashes in order to minimize downtime caused by freezing, resets, and shutdowns.
The second level is more complicated, as easyMINE claims their technology will actively seek to improve the overall efficiency of the mining process by modifying various operating parameters and evaluating the resultant patterns of behavior.
Finally, the third layer will be responsible for the implementation of long-term strategies and goals.
A shared consciousness
easyMINE also claims that all machines within their platform’s network will be able to share experiences with one another in order to improve the overall performance of the mine.
“We are certain that, thanks to these [self-analysis and self-optimization] algorithms, easyMINE will deliver excellent hash rates, high levels of stability, and reduced operating costs,” sums up Andrzej Belczak, the project’s co-founder and CFO.
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